Giá mua

$MRVL Nice Risk Reward Here

is still basing so this could be quite an early trade. However, I did put on a ½ size position yesterday as it rose above the 21 EMA (blue). I like that it is over the AVWAP from the Jan 23rd all-time high (ATH). That means that by price and volume the majority of stockholders are at or near breakeven since that ATH. Which also tells me that there are not many sellers left and that the stock has a chance of entering a stage 2 uptrend.

My current stop will be based on a solid close below the 50 DMA (red). I want to add to my position “if” we can get a good follow-thru day above $75.26.

If you like this idea, please make it your own and follow “your” trading rules. Remember, it is your money at risk.

Ghi chú

- Often the market seems to have price memory. With that in mind, it is prudent to be aware of these areas of "possible" resistance. If I am in a trade and find price is "clearly" being reject, I will not let the trade go red and I most often settle for a small profit and keep the name top of mind to see if it sets up again. Just my thoughts.

Brent_Calver

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I am under no obligation to post any action or update to any idea.

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Brent_Calver

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